M&A Fuels China's Internet

A wave of mergers has pushed some of these stocks to premiums they don't merit. But here are some firms worth considering.

China's largest Internet companies are on a buying spree, spending over $3 billion on acquisitions and strategic investments barely three months into the year. This past week, Alibaba Group took control of movie and TV producer ChinaVision Media (ticker: 1060.Hong Kong) for $800 million, and Tencent Holdings (0700.Hong Kong) bought a 15% stake in JD.com, considered China's Amazon and a big e-commerce rival to...